Visa has unveiled a suite of new security services and capabilities to detect and disrupt fraud threats targeting banks and merchants.
Among the free tools are Visa Vital Signs, which actively monitors transactions and alerts financial institutions of potential fraudulent activity at ATMs and merchants that may indicate cashout attacks.
Another new feature applies deep learning to Visa’s vast number of processed card-not-present transactions to identify financial institutions and merchants that hackers may be using to guess account numbers, expiration dates and security codes through automated testing.
The machine learning technology detects sophisticated enumeration patterns, eliminates false positives, and alerts affected financial institutions and merchants before fraudulent transactions begin.
A Payment Threats Lab creates an environment to test a client’s processing, business logic and configuration settings to identify errors leading to potential vulnerabilities. For example, Visa can verify if a financial institution is effectively validating cryptograms for EMV chip transactions.
Finally, Visa eCommerce Threat Disruption proactively scan the front-end of e-commerce websites for payment data skimming malware.
RL Prasad, SVP, payment system risk, Visa, says: “Visa’s new payment security capabilities combine payment and cyber intelligence, insights and learnings from breach investigations, and law enforcement engagement to help financial institutions and merchants solve the most critical security challenges.”
